Commercial Register (komercreģistrs)
In Latvian: Komercreģistrs
The Commercial Register (komercreģistrs) is a public register kept by the Latvian Enterprise Register in which information required by law is entered and documents are stored about merchants and their commercial activity. Anyone has the right to see its entries and the documents filed with it.
For a capital company it records the firm name, company type, management and supervisory board members, whether board members represent the company alone or jointly, the paid-up share capital and the legal address. Procuration is entered there too.
A natural person becomes a merchant by being entered in the Commercial Register as a sole proprietor (IK). Associations and foundations are not entered there; they have a separate register of associations and foundations.
The Commercial Register is not a separate authority but one of the registers the Enterprise Register keeps, which is why the two names are often used interchangeably.
Example
Before signing a contract with SIA "Ozols", the counterparty sees in the Commercial Register entry that the company has two board members who may represent it only jointly, so it asks for both signatures.
Legal basis
- Commercial Law, Section 6 likumi.lv
- Commercial Law, Section 7 likumi.lv
- Commercial Law, Section 8 likumi.lv
- Law On the Enterprise Register of the Republic of Latvia, Section 2.7 likumi.lv
This explanation is for information and does not replace tax or legal advice. The law in its current consolidated text prevails.